Emerita Resources Announces Debt Financing with Nebari Resources to Advance IBW Project Page 1

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TORONTO, Aug. 14, 2024 (GLOBE NEWSWIRE) — Emerita Resources Corp. (TSXV: EMO) (the “Company” or “Emeritus”) announces that it has entered into a credit agreement (the “Loan agreement”) with Nebari Natural Resources Credit Fund II, LP (the “Money Lender”) pursuant to which the Company will borrow from the Lender up to a maximum aggregate principal amount of USD$15,000,000, to be issued in three tranches of: (i) USD$6,000,000 (“Tranche 1(ii) USD$4,500,000 (“Tranche 2”); and (iii) USD$4,500,000 (“Tranche 3“and together with Tranche 1 and Trance 2, the”Tranches” and each one “Tranche) (the “Loan”). The loan will provide flexible, non-dilutive financial support to enable Emerita to complete its wholly-owned Iberian Belt West Project (the “IBW project) during a difficult stock market.